CIDCO gets Rs 181 crore bid for 3.4 acre Nerul plot

MUMBAI: The City and Industrial Development Corporation (CIDCO), the city planning authority for Navi Mumbai, has received highest bid of Rs 181 crore for a 3.4 acre land parcel in Nerul.

The plot was auctioned by CIDCO with reserve price at Rs 95,000 sq meter and was finally sold at Rs 1.33 lakh per sq meter, CIDCO spokesperson said.

Realty developer Moreshwar Group emerged as the highest bidder out of total six bidders the plot in Nerul's sector 19 A had attracted. The plot has Floor Space Index (FSI) or permissible development of 1.5 times.